Derrick Favors has reached agreement on a four-year $49 million-plus contract extension with the Utah Jazz league sources told Yahoo Sports.

The deal includes bonus incentives that could push the package well over $50 million sources said.

Favors 22 is a centerpiece of the Jazz's future and will take over a starting frontcourt position because of the off-season departures of Al Jefferson and Paul Millsap. A contract will be signed in the near future sources tell Yahoo.

As Favors' role and production increase this year and beyond his ability to earn the incentive clauses in the deal will grow. In three seasons Favors has shown the promise to become one of the NBA's top young power forwards.

With ideal size at 6-foot-10 and 250 pounds and merely the age of a college senior Favors could've commanded a $13 million annual salary from several teams in restricted free agency next summer executives told Yahoo Sports.

Yet Favors' agent Wallace Prather and Jazz officials worked out a deal over the past several months that offers security and protection to both sides. Utah risked having to match a higher offer on the market if it didn't meet Favors' asking price now. For Prather and Favors this is an outstanding deal in the current marketplace.

Favors wanted to remain with the Jazz and that was important to an organization that has a history of building its roster around good high-character players.